From May 28th to the 30th, IUM was in turmoil!

Some eighty 3rd year bachelor students were very busy running virtual companies using Cesim Global Challenge: an educational business game simulation that improves learners’ understanding of the global business operations of a firm in a dynamic, competitive environment.

Before graduating, all our Bachelor in Business Administration students spend three days in the driver seat of virtual companies that they have to manage over a period of three years. Thanks to this business simulation game they learn first-hand all the interconnections among the different business functions typical of real companies. This simulation provides a sustained immersion in the complex intertwining of business, international commerce, the 21st century global enterprise, human differences and ethics.

Under the supervision and guidance of Professors Torchia and Kern, students will in effect learn to make managerial decisions based on available data and develop an understanding of the time, infrastructure, and human resources constraints that impact these decisions.

The seminar also provides valuable insights into the cycle of organizational change in this context, and develops both intellectual and behavioral skills to facilitate a more nuanced understanding – and successful management of – change in such a setting.

Moreover, since the teams themselves set the competitive environment, no optimum solution exists. Each play of the simulation is different, and the results will vary greatly depending on the background and level of the players.

Last step in the experience is a shareholders’ presentation: all virtual companies have to present what they did and the results achieved in a plenary session; the audience is asked to play the role of shareholders having invested in the virtual companies: an excellent exercise to prove the solidity of the strategy chosen and implemented!

Mariateresa Torchia, IUM Professor of Management and Governance

After introducing the students how the platform works and which are the main goals of the business simulations and the main learning objectives, I rest a complete disposal of students over the three days of the simulation. They can contact me anytime during the simulation through a forum that connect students with the instructor. Moreover students will make a final presentation of their strategy and their results and I discuss with them their presentations and give them the final grades. 

Students will in effect develop a deeper comprehension of each of the management-related disciplines and the financial implications of the strategic and operational decisions. The simulation provides them with an invaluable experience in teamwork and problem solving. Dr. Torchia

 

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Interested in our Bachelor in Business Administration program, please visit our website

Feel free to also contact our Admissions Team at admissions@monaco.edu